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RBI need not print entire amount of extinguished currency: Report

RBI need not print entire amount of extinguished currency: Report

Friday, March 31, 2017, 1:27 PM

RBI need not print the entire amount of extinguished currency but only Rs.1.15 trillion more from March 24 levels, which will in turn bring down the cost of printing in the range of Rs.500-1,000 crore. According to SBI research-report, already there was excess cash floating in the system before demonetisation and secondly, the push for digital-transactions has shifted a sizeable population towards less-cash usage.
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